You better believe it. I was doing a happy dance. The smoke comment goes wayyyy back to my time in the Army Field Artillery Officer Basic Course at Ft. Sill. The Sargent in charge of the communications class commented that when you put a bunch of Lieutenants in a room with radios one of two things happened, maximum communications or maximum smoke. His money was on the smoke.
Now I gotta finish the cabinets. I prototyped a grill frame out of 1/4" hardboard. Got the basic design down. Nothing special at all really just rounded edges but I think it will look good if I can execute the actual grills better than I did the prototype. I need to get the grills done so I can determine where the magnets will go on the baffles before I glue them to the rest of the cabinet.
As for finish I'm going to do a 4 step process (1) apply a pre-stain conditioner so the wood, including the rounded over corners, will take up the stain evenly, (2) apply an oil based stain, (3) multiple coats of shellack, and (4) wax and buff.
I haven't decided on stain color yet. It is down to 4 candidates: red mahogany, Danish teak, pecan, and black cherry. I have used the 7" diameter circle cutouts from the CS's braces and from the LS's woofer holes as test blanks. At this point I have them stained and one round of shellack applied. I'm going to wait until I have at least 3 rounds of shellack applied before I choose. This may seem a little extreme for test pieces but there can be a lot of difference in appearance in a stained piece of wood before and after the finish coats are applied.
Unfortunately I won't get much done for a couple of days. My wife believes weekends are for honey-dos and I have some stone I have to finish mortaring and laying around the edge of a flower bed. I only have about 65' left to go.

Mike